Chevy Chase Trust Holdings LLC Has $28.36 Million Stake in Newmont Co. (NYSE:NEM)

Chevy Chase Trust Holdings LLC trimmed its stake in Newmont Co. (NYSE:NEM) by 2.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 762,027 shares of the basic materials company’s stock after selling 20,430 shares during the period. Chevy Chase Trust Holdings LLC owned about 0.07% of Newmont worth $28,363,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Avior Wealth Management LLC grew its position in Newmont by 191.8% in the 3rd quarter. Avior Wealth Management LLC now owns 496 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 326 shares during the last quarter. Prospera Private Wealth LLC acquired a new stake in Newmont in the 3rd quarter worth $28,000. Highline Wealth Partners LLC acquired a new stake in Newmont in the 3rd quarter worth $32,000. HHM Wealth Advisors LLC grew its position in Newmont by 66.0% in the 4th quarter. HHM Wealth Advisors LLC now owns 880 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 350 shares during the last quarter. Finally, McIlrath & Eck LLC boosted its position in shares of Newmont by 80.6% during the 3rd quarter. McIlrath & Eck LLC now owns 809 shares of the basic materials company’s stock valued at $43,000 after acquiring an additional 361 shares in the last quarter. 68.85% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NEM has been the topic of several recent research reports. The Goldman Sachs Group initiated coverage on shares of Newmont in a research report on Monday, January 13th. They set a “buy” rating and a $47.20 target price on the stock. Cibc World Mkts lowered shares of Newmont from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 28th. Raymond James decreased their target price on shares of Newmont from $62.00 to $59.00 and set an “outperform” rating on the stock in a research report on Monday, November 25th. CLSA initiated coverage on shares of Newmont in a research report on Friday, November 29th. They set an “underperform” rating on the stock. Finally, Scotiabank decreased their target price on shares of Newmont from $52.00 to $50.00 and set a “sector perform” rating on the stock in a research report on Tuesday, January 21st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $53.37.

Newmont Trading Down 2.4 %

Shares of NYSE NEM opened at $46.61 on Friday. Newmont Co. has a 1-year low of $29.42 and a 1-year high of $58.72. The company has a market cap of $53.06 billion, a PE ratio of -30.66, a P/E/G ratio of 0.38 and a beta of 0.52. The company has a current ratio of 1.96, a quick ratio of 1.73 and a debt-to-equity ratio of 0.30. The company has a 50-day moving average of $40.90 and a two-hundred day moving average of $46.51.

Insider Buying and Selling

In related news, EVP Peter Toth sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $40.00, for a total transaction of $120,000.00. Following the completion of the sale, the executive vice president now directly owns 82,596 shares of the company’s stock, valued at $3,303,840. The trade was a 3.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Harry M. Iv Conger purchased 9,498 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The shares were acquired at an average cost of $42.15 per share, with a total value of $400,340.70. Following the completion of the purchase, the director now owns 14,498 shares of the company’s stock, valued at $611,090.70. The trade was a 189.96 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 28,154 shares of company stock valued at $1,166,843 over the last ninety days. Insiders own 0.06% of the company’s stock.

Newmont Profile

Newmont Corporation engages in the production and exploration of gold. It also explores for copper, silver, zinc, and lead. The company has operations and/or assets in the United States, Canada, Mexico, Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, Papua New Guinea, Ecuador, Fiji, and Ghana.